Adelaide ended 2023 with luxury house prices at $ 1.6 million , 2.2 times more than in 2014 and a 9.2 per cent increase from 2022 . For the first six years of the last decade , luxury house prices increased incrementally , but once the $ 1 million threshold was passed in 2020 , luxury prices surged to peak in 2023 . Median prices have followed a similar but more muted trend .
A D E L A I D E
ADELAIDE HOUSE PRICES OVER THE PAST 10 YEARS
LUXURY
$ 1.4M
$ 1.2M
$ 1M
$ 800K
MEDIAN
$ 600K
$ 400K
$ 200K
0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source : Neoval
Luxury unit prices saw a similar burst in prices post-2020 . Between 2014 and 2020 , prices grew at an average annual rate of 1.3 per cent , but between 2021 and 2023 , this rate jumped to an average of 11.9 per cent per year . Luxury unit prices peaked in 2023 at $ 994,000 , just shy of the million-dollar mark .
ADELAIDE UNIT PRICES OVER THE PAST 10 YEARS
LUXURY
$ 900K
$ 800K
$ 700K
$ 600K
$ 500K MEDIAN
$ 400K
$ 300K
$ 200K
$ 100K 0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source : Neoval
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